Quick Quid Help

dotstar24

Hi

I've just had to cancel my QQ repayment that was due to leave my bank tomorrow. (change of circumstances and lack of funds) I've just spoken via chat on there website to a customer services rep and they said they cannot set a up a payment plan. I've asked them what I should do and all he said was 'we cannot help you at this time'.

what happens now? I moved house 2 weeks ago so my QQ account is registered to my old address. i want to repay them, what should i do???

DarkConvict

QQ is never helpful.

Simply put if you can't pay them back on time, your going to be trashing your credit file and incurring further charges and a higher interest rate.

Generally what QQ will do is if you cannot repay is offer a new loan that is bigger so you repay off the old one, however this for many people turns into a cycle where they end up owing £1000, with £300+ monthly interest.

You could look for local credit unions to see if they can help, but generally you need to find some money to get rid of any payday loans you have as they will tear you apart. If you do not pay they will either sell your debt on, or take out a CCJ at your last known address to secure repayment. Have you spoken to national debtline or CCCS.

dotstar24

i can possibly repay it at some point next month with my partners wages (hes paid weekly)....but i need to make that arrangment with them!

DarkConvict

Have you gone to your local quick quid office, or spoke to them on the phone instead?

I believe with QQ, its either another loan or they default on you. Have you tried to send them a written letter with offer of repayment. I do advise you get some professional advice - https://forums.moneysavingexpert.com/discussion/2077631

dotstar24

i can possibly do another loan....its just as i said, I've moved this month and am skint....might sit back then and wait for them to contact me?

DarkConvict

might sit back then and wait for them to contact me?

That is dangerous thinking, especially as you have moved and not given them your new details.

How come you decided to move this month when you had a payday loan on the go, was your rental agreement finished? You probably already know but if your getting payday loans many people will see you as been in serious money trouble. These are the most dangerous types of debts short of legalised loan sharks, because of their rates and terms they bring down alot of people.

You need to keep trying to get in touch with them an come to an arrangement. Work out what you can pay given your income/outgoings, and go armed with that information.

dotstar24

okay thanks. I've emailed their collections dept. and I'll see what they say thanks.

DarkConvict

Do not wait to long for a reply, whilst written communication is best (email/letter) you do need to come to an arrangement to make repayments. is the QQ loan secured against a cheque? If so they will cash it against your account if it is not paid.

dotstar24

no the loan isnt secured against anything.